HMRC investigations double
With HMRC on a mission to reduce the £35 billion in tax loss every year and news that the number of investigations into self-assessment tax returns has doubled, many businesses and self-employed individuals may be worried.
There are ways to help keep organised such as good book keeping, which ensures discrepancies can be sorted quickly, but sometimes there are innocent mistakes made that can be identified in an investigation and in any business or as a self-employed trader, being under investigation can be a daunting experience. There has been much reported about business owners or self-employed professionals actually settling on discrepancies without real question as the threat of HMRC and further action can be quite worrying. However, sometimes HMRC can get it wrong.
We believe that in instances such as this, it is always wise to seek professional advice. At Adams Moore we have helped clients in many situations and been able to alleviate their fears and sort matters quickly so they can move on with their livelihood without worry.
Clients worried about how professional consultancy costs could stack up can choose a tax protection insurance product that covers the fees for helping in such a situation, not covering the tax owed but the work in liaising to resolve the matter, which can be very time consuming.
This news also underpins our believe that gaining professional advice and help when filling out self-assessment forms can really help avoid problems that could be highlighted in an investigation.
For further information about our services and how we can help, including the tax protection insurance, call us now on 01827 54944.